What is ERP and Understanding ERP systems
If you’re like most business owners, you rely heavily on technology for every aspect of your company’s daily operation. From processing customers’ orders and addressing their concerns to automating manufacturing processes and sifting through job candidates’ applications and resumes, the business world revolves around computers and digital tools. It’s a far cry from the old ways of paper files and sticky notes, but that doesn’t always mean today’s technology-driven society is without certain problems. For maximum productivity, efficiency, and communication, you need to take full advantage of all the options available to you. ERP systems are among the most effective alternatives in this realm, but they’re also one of the unsung heroes of the business world.
Discussing One of Your Top ERP Options
ERP systems have been around for quite some time, but they’ve only been recognized in an official capacity since the 1980s. That also happens to be around the same time that computers became a widespread tool for businesses. During that timeframe, computers were getting smaller, more powerful, and more affordable. As such, they were more practical than they were in the beginning. Despite their advantages, they weren’t an all-inclusive solution to the many challenge’s businesses face. That’s why ERP systems came into play. Several software solutions are available with those from Epicor being among the most prominent. If you’re looking for help with many of your digital business operations, understanding the Epicor ERP System can certainly be beneficial.
What Is an ERP Software Suite?
ERP software solutions aim to help companies consolidate their business operations via their digital platforms. In most cases, the hardware and software systems businesses use operate on an individual basis. Accounting software helps keep track of accounts payable and receivable. Order fulfillment software offers inventory management control and helps get products and services into consumers’ hands. Scheduling apps provide a more comprehensive, hassle-free way to create shifts and keep track of employees’ hours among other elements. Those are only a few of the most common types of software suites.
Each of those solutions operates on its own platform. All of them can be accessed at any time, but they’re not always easy to bring together. Cross-referencing the information in each platform means uploading, downloading, or importing data. From there, you or a staff member has to compare details and create reports based on the available details. There’s plenty of room for error, and breakdowns along the chain of communication are highly common. This can cause an endless array of problems in the long run, and it’s certainly not the most efficient means to an end.
ERP software suites take a great deal of guesswork, time, and effort out of the equation. They provide a centralized platform on which to operate, and you can cross-reference information from each department as needed. This gives you simpler, faster, and more accurate ways of sharing information, analyzing data, and creating reports. As such, you can easily find areas where your company is wasting time and money and address the problems early on. While this gives you ample benefits, some of the most important are streamlined workflow and improved efficiency in the workplace.
Reducing Operation Costs through ERP Solutions
When you’re running a business, costs of operation are critical factors. They can eat into profits and greatly detract from other essential aspects, such as researching and developing new products or services to offer the public. With the right ERP solution, you can lower costs in many ways. For one, these suites reduce the amount of time and resources needed for various tasks because they’re automated systems. This frees up money and employees that can be allocated to other tasks.
Secondly, it speeds up the flow of information and ensures it’s more accurate. This gives you an opportunity to catch problems and address them much earlier than you would otherwise. It also allows for faster, more efficient information exchange among different departments in your company. Collaborative efforts are more cost- and time-effective and much simpler for your employees.
ERP solutions also give you more control over your inventory and supply chain. You’ll be able to get your products to market more quickly and keep essential supplies on hand without fear of running out among other benefits. At the same time, you won’t waste as much money ordering supplies you don’t need or manufacturing products that aren’t selling as well as others.
On top of all that, ERP solutions like those from Epicor can go a long way toward improving customer service. Today’s consumers expect a great deal from the companies they do business with. They want perfection, fast responses, and satisfactory conflict resolutions to name a few of their demands. ERP software also covers this portion of your business operations. Boosting customer service can aid in retaining current clients as well as bringing in new ones. Both of these elements can improve your bottom line and save money from several angles.
Based on information from the Epicor website, the company has been part of the ERP software industry for more than 45 years. It provides a wide range of software suites for companies in various industries. It also offers both cloud-based and on-premise ERP solutions. Epicor strives to help businesses take advantage of technology and grow to their full potential. Its software developers are also committed to remaining on top of the latest changes in technology and industry, so they can help their clients do the same.
In a Nutshell
ERP software has been around for about 60 years, but many businesses have yet to take full advantage of all it has to offer. Numerous types of solutions are available. Some cover basic business requirements while others are tailored to industry-specific needs. Certain ones allow companies further customization options based on their individual requirements. Additionally, cloud-based, on-premise, and hybrid ERP software suites are on the market to better meet companies’ needs in terms of cost, flexibility, and functionality. Be sure to research your options thoroughly to gain a better understanding of what each one has to offer and how its features and benefits apply to your company.